Morning Briefing - 16 Apr. 2026

CommoPlast

Morning Briefing

16 April 2026

Brent: $94.93 (+ $0.14)

WTI: $91.29 (+ $0.01)

Naphtha CFR Japan: â

Ethylene CFR NEA: á

Ethylene CFR SEA: á

Propylene FOB Korea: Stable

Propylene CFR China: Stable

*Data represent closing prices of the previous trading day

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Malaysian PE reverses as China futures slide drags export offers lower

Malaysian PE offers edged lower into 15 April as traders moved pre-emptively to protect competitiveness against softer Chinese import offers after LLDPE 2605 contracts fell for the sixth consecutive session. The adjustment reflects a defensive and strategic repositioning rather than demand-led weakness, with Malaysian traders recalibrating to maintain relevance in a market increasingly anchored by China’s pricing trajectory.

However, the gap remains stark, with non-dutiable Chinese cargoes continuing to undercut local levels and leaving Malaysian pricing comparatively elevated. This widening divergence is prompting market participants to question how long domestic offers can remain insulated before broader regional alignment reasserts itself.

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Taiwanese PVC rally hits resistance as cost push collides with weak demand

PVC markets are testing the limits of cost pass-through, as Taiwanese producers push sharply higher offers into a demand environment that is no longer responsive. The move is rooted in sustained upstream disruption, with energy and ethylene constraints tightening production economics across Asia and forcing non-Chinese suppliers to defend margins despite curtailed operating rates.

Yet the market is refusing to follow. Chinese oversupply and aggressive export positioning continue to anchor regional pricing, while weak downstream demand and ample inventories, particularly in India and Southeast Asia, are reinforcing buyer resistance. Unless Chinese producers pull back, the near-term bias remains tilted to the downside, with any attempt to lift prices likely to be met with swift pushback.

Read full story:

Taiwanese PVC major return to the market with sharp hikes on May shipment offers

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